1. According to the Project Management Body of Knowledge (PMBOK), a project is a temporary endeavor undertaken to create a unique product or service.

2. Triple constraint- project scope, time and cost 3. A portfolio is a collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic business objectives. The projects or programs in the portfolio may not necessarily be interdependent or directly related 4. Project Portfolio Management is a management process to select the projects that should be invested in. Specifically, it is the selection process based on the need, profitability, and affordability of the proposed projects. 5. A project management office (PMO) is an organizational unit to centralize and coordinate the management of projects under its domain. A PMO can also be referred to as a "program management office," "project office," or "program office." A PMO oversees the management of projects, programs, or a combination of both 6. Project management is a set of tools and techniques that are used to organize the work of the project to help bring about a successful project. 7. The contract between the organization and the vendor super cedes all other workrelated documents 8. Customers, internal or external, are the most important stakeholders in a project 9. Scope verification must take place at the end of each phase 10. Money already spent on a project is called sunk cost and should not be taken into consideration when determining if a project should continue. Instead, the cost of the work to complete is one of the elements that should be taken into consideration when considering to kill a project 11. Phase end reviews are also called phase exits, phase gates, or kill points. 12. The project life cycle goes through a series of phases to create the product 13. Project managers manage things, but lead people. What's the difference? Management is the process of getting the results that are expected by project stakeholders. Leadership is the ability to motivate and inspire individuals to work towards those expected results. 14. Project 1. Projects don't last forever. They are temporary and unique

2. Projects pass through logical phases to reach their completion 3. Purpose of Project is to attain its objective and then terminate 15. Operations 1. Operations, however, do go on and on. They are ongoing and repetitive 2. Operations may be influenced, or even created, by the outcome of a project 3. Objective of an ongoing operation is to sustain business 16. Organization Structure 1. Functional 2. Matrix 1. Weak 2. Balanced 3. Strong 3. Projectized 17. Organization Structure And Project Characteristics 1. Functional 1. PM's Authority [Little or none] 2. Resource Availability [Little or none] 3. Who controls Project Budget [Functional Manager] 4. PM's Role [Part - Time] 5. PM Admin Staff [Part - Time] 2. Weak Matrix 1. PM's Authority [Limited] 2. Resource Availability [Limited] 3. Who controls Project Budget [Functional Manager] 4. PM's Role [Part - Time] 5. PM Admin Staff [Part - Time] 3. Balanced Matrix 1. PM's Authority [Low to moderate] 2. Resource Availability [Low to moderate] 3. Who controls Project Budget [Mixed] 4. PM's Role [Full - Time] 5. PM Admin Staff [Part - Time] 4. Strong Matrix 1. PM's Authority [Moderate to high] 2. Resource Availability [Moderate to high] 3. Who controls Project Budget [Project Manager] 4. PM's Role [Full - Time] 5. PM Admin Staff [Full - Time] 5. Projectized 1. PM's Authority [High to almost total] 2. Resource Availability [High to almost total] 3. Who controls Project Budget [Project Manager] 4. PM's Role [Full - Time] 5. PM Admin Staff [Full - Time] 18. The WBS is a decomposition of all the deliverables the project will create

19. Inspections may also be known as: a. Reviews b. Product reviews c. Audits d. Walk-throughs 20. Graphical evaluation and review technique (GERT) models allow for loops and conditional branching 21. Crashing adds more resources to activities to decrease their duration, which typically adds cost 22. Project calendar This calendar shows when work is allowed on the project. For example, a project may require the project team to work nights and weekends so as not to disturb the ongoing operations of the organization during working hours. In addition, the project calendar accounts for holidays, working hours, and work shifts that the project will cover 23. Resource calendar The resource calendar controls when resources, such as project team members, consultants, and SMEs are available to work on the project. It takes into account vacations, other commitments within the organization, or restrictions on contracted work, overtime issues, and so on 24. Program Evaluation and Review Technique (PERT) uses a weighted average formula to predict the length of activities and the project. Specifically, PERT uses a 'pessimistic,' 'optimistic,' and 'most likely' estimate to predict when the project will be completed 25. The critical path is the longest path to completion in the network diagram. 26. Activities on the critical path have no float or slack. 27. Free float is the amount of time an activity can be delayed without affecting the next activity's scheduled start date. 28. Total float is the amount of time an activity can be delayed without affecting the project end date. 29. Heuristic is simply a rule of thumb 30. Crashing involves adding resources, which typically increases cost. 31. Fast tracking adds risk as tasks are allowed to overlap 32. Each resource in the project must be accounted for and assigned to a cost category. Categories include the following: a. Labor costs

b. Material costs c. Travel costs d. Supplies e. Hardware costs f. Software costs g. Special categories (inflation, cost reserve, and so on) 33. There are three generally accepted categories of estimating accuracy: a. Rough order of magnitude This estimate is rough and is used during the Initiating processes and in top-down estimates. The range of variance for the estimate can be 25 percent to +75 percent. b. Budget estimate This estimate is also somewhat broad and is used early in the planning processes and also in top-down estimates. The range of variance for the estimate can be 10 percent to +25 percent. c. Definitive estimates This estimate type is one of the most accurate. It is used late in the planning processes and is associated with bottom-up estimating. The range of variance for the estimate can be 5 percent to +10 percent. 34. The opportunity cost is the amount of the project that was not chosen 35. Quality is the sum of the characteristics of a product that allow it to meet the demands or expectations of the project 36. Grade, according to the PMBOK, is a category or rank given to entities having the same functional use but different technical characteristics. For example, there are different grades of paint, different grades of metal, and even different grades of travel. 37. The design of experiments (DOE) approach relies on statistical what-if scenarios to determine what variables within a project will result in the best outcome. 38. Design of experiments is an analytical technique that identifies the elements or variables that will have the greatest effect on overall project outcomes 39. There are five types of powers the project manager yields: (R F C E R) a. Reward b. Formal c. Coercive (penalty) d. Expert e. Referent 40. Among the above powers Reward, Formal & Coercive (penalty) come with the "Position" 41. Expert & Reward are considered the best types of powers and Coercive (penalty) is "Least" for obvious reasons 42. Seven reasons for conflict, in order of most common to least common: a. Schedules b. Priorities c. Resources d. Technical beliefs e. Administrative policies and procedures

f. Costs g. Personalities 43. Five different approaches to conflict resolution a. Problem solving (win - win) [BEST] b. Forcing (win - lose) c. Compromising (lose - lose) d. Smoothing e. Withdrawal NOTE: Forcing (win - lose) and Problem Solving (win - win) are the ONLY two modes that result in a RESOLUTION to the conflict. 44. The halo effect is the promoting the person to manage projects since he/she is good at a technology 45. Confronting (Problem Solving) is the best problem-solving technique since it meets the problem directly 46. In a Weak Matrix structure, functional management will have more authority than the project manager 47. Within communicating there are five characteristics that affect the message: a. Paralingual: pitch, tone, and voice inflections b. Feedback: sender confirmation of the message by asking questions, for a response, or other confirmation signals c. Active listening: receiver confirms message receipt d. Effective listening: receiver offers confirmation of the message, such as nodding their head, asking questions, or other interactions. e. Nonverbal: facial expressions, hand gestures, and body language 48. One of the first inputs to risk management is the project charter 49. Historical information is always an excellent source of information for risk identification 50. Brainstorming is likely the most common approach to risk identification 51. Force majeure is a powerful and unexpected event, such as a hurricane or other disaster 52. Contracts are known by many names: a. Agreement b. Subcontract c. Purchase order d. Memorandum of understanding 53. All contracts in the United States are backed by the US court systems 54. According to the Guide to the PMBOK, the project charter should be published by a manager external to the project but with sufficient power and authority to carry it off. 55. When a project is performed under contract, the contract can serve as the project charter

56. Cost reimbursable contracts are used when the degree of uncertainty is high and when the project requires a large investment prior to completion of the project 57. The scope statement contains an exhaustive list of the project deliverables, their requirements, and measurable criteria used to determine project completion 58. The scope statement is an output to the Scope Definition process and is used to create the WBS 59. Cause-and-effect diagrams, also called Ishikawa or fishbone diagrams, show the relationship between the effects of quality problems and their causes 60. The primary function of the Closing process is to formalize project completion and disseminate this information to the project participants 61. According to the Guide to the PMBOK, the project manager is identified and assigned as an output of the Initiation process. In practice, project managers are very often assigned at the beginning of this process. 62. The work package level is the lowest level in the WBS. Time and cost estimation is easily determined at this level as are resource assignments. Quality control measurements can be determined at this level as well. 63. The code of accounts is assigned to the elements in the WBS 64. Each element in the WBS is assigned a unique identifier. These are collectively known as the code of accounts 65. The Responsibility Assignment Matrix (RAM) links project roles and responsibilities with project activities 66. The WBS is the deliverables-oriented hierarchy of project work. 67. The staffing management plan details how and when human resources will be added to and taken off the project. It is an output of Organizational Planning 68. Analogous estimating is not a qualitatively based technique. It is a top-down estimating technique that considers previous similar activities when calculating estimates 69. Mandatory dependency, also known as hard logic. Mandatory dependencies are inherent in the nature of the work 70. Discretionary dependencies, also called preferred logic, preferential logic, and soft logic, are defined by the project management team 71. "Best Practice often refers to a specific sequence of work, described in terms of Soft Logic. Sometimes "Experience" is also attributes to Soft Logic

72. Finish to start is the most commonly used logical relationship in PDM and most project management software packages 73. There are three major documents and each has a specific purpose: a. Project Charter. Formally authorizes the project. b. Project Scope Statement. States what work is to be accomplished and what deliverables need to be produced. c. Project Management Plan. States how the work will be performed 74. Philip Crosby devised the zero defects theory, meaning do it right the first time. Proper Quality Planning leads to less rework and higher productivity 75. According to Bruce Tuckmann, Forming, Storming, Norming and Performing are the stages of team development 76. The performing stage is similar to Maslows self-actualization 77. Myers Briggs theory states that Sensing and Intuition personality types are related to Information preference in other words Hard Data verses what might be 78. Juran = Fitness for use, conformance. Quality by design. 79. Joseph M. Juran is noted for his fitness for use premise. Simply put, this means the stakeholders and customers expectations are met or exceeded. 80. W. Edwards Deming suggested that as much as 85 percent of the cost of quality is a management problem 81. Shewhart = Plan-Do-Check-Act cycle. 82. TQM = Quality must be managed in and must be a continuous process 83. Six Sigma = Six Sigma is a measurement-based strategy; no more than 3.4 defects per million. 84. Kaizen = Continuous improvement; improve quality of people first. 85. Continuous improvement = Watch continuously for ways to improve quality. 86. Statement of work (SOW) comprises of 1. Business Need 2. Product Scope Description and 3. Strategic Plan 87. Conflict should be addressed early and usually in private, using a direct, collaborative approach 88. Organization, Environmental & external assumptions should be addressed by the Project Charter 89. WBS Dictionary is a document which describes the details for each component in the WBS. It includes a breif description of the of the Scope or Statement of the

work , defined deliverables, a list of associated activities, and a list of milestones 90. Project Manager must consider cultural differences while deciding upon recongnization and rewards during team development. 91. Technical inability and poor risk management by the contractor is mostly the reason for the project not to meet the customer expectations 92. Critical Chain Project Management is typically the Management of Buffers 93. Critical Chain is another schedule network analysis technique that modifies the project schedule to account for limited resources 94. The Critical Chain method adds duration buffers that are non-work schedule activities to maintain focus on the planned activity durations 95. Cost Of Quality (COQ) are the cost types in modern quality management 1. Prevention Costs, 2. appraisal costs & 3. failure costs 96. The key components of the communication model include: a. Encode. b. Message. c. Medium. d. Noise. e. Decode. 97. Common formats for performance reports include 1. Bar charts, 2. S curves, 3. Histograms, and 4. Tables. 98. Face-to-face meetings are the most effective means for communicating and resolving issues with stakeholders. 99. Order of Magnitude estimates are also knows as conceptual, ballpark or preliminary estimates 100. Tight Matrix is putting all project personnel together. Also referred as collocated 101. Strategies for Negative Risks or threats (Avoid Transfer Mitigate) 102. Strategies for Postive Risks or Opportunities (Share Exploit Enhance) 103. Common Strategy for both threats and opportunities is Acceptance 104. There are 3 stages of reaction to stress (Alarm, Resistance & Exhaustion) 105. Some of the traits/qualities exhibited by effective leaders are 1. Flexibility, 2. Ambition, 3. Intelligence,

Decisiveness, Creativity, Persistence and Energy 106. Detailed Tasks are detailed in Project Schedule, which is part of Project Plan and note its NOT WBS. WBS is a deliverable oriented document 107. An abnormal trend is formed when seven or more consecutive data points reflect a steadily increasing or decreasing pattern over time 108. Scope Verification is concerned with the acceptance of deliverables 109. Quality control is concerned with making sure the deliverables meet quality requirements. Quality Control is done first; both are Monitoring and Controlling processes. 110. Quality Assurance (Executing) is focused on process: process analysis, quality audits, etc. 111. Quality Control (Monitoring and Controlling) is focused on sampling results to see if they meet quality standards 112. Code of Accounts identifies WBS items; Chart of Accounts monitors project costs by category 113. In decision tree, a circle is a chance 114. In Precedence Diagramming Method (PDM) or Activity on Node (AON) network diagrams, nodes are activities and arrows are dependencies 115. In Arrow Diagramming Method (ADM) or Activity on Arrow (AOA) network diagrams, arrows are activities and nodes are dependencies 116. Dummies are only used on ADM 117. ADM tasks can only have FS relationships 118. PDM uses one time estimate to determine duration, while ADM can use more than one time estimate. 119. Scope Verification is done during Project monitoring and controlling BUT Product verification is done during the Project Closing 120. Audits: o Quality Audit in Perform QA, o Risk Audit in Risk Monitoring and Control, o Inspections and Audits in Contract Administration, o Procurement Audits in Close Contracts 121. The outputs of process groups are: o initiating: charter and preliminary scope statement; o planning: project management plan;

4. 5. 6. 7.

o executing: work results; o monitoring: corrective actions; o closing: project product. 122. Reporting formats: o Forecast Report (what is expected to happen on a project), o Progress Report (what happened since the last report), o Status Report (state of the project at the current time), o Earned Value Report (focuses on Earned Value Management), o Variance Report (what happened vs. what should have happened). 123. Performance Reporting is a Controlling process. It creates Performance Reports, which are comparisons of performance to the performance baselines. These are typically done in tabular or graphical format. 124. Information Distribution is an Executing process. It creates Organizational Process Assets such as project presentations, stakeholder notifications and status reports. 125. Develop Project Team is an Executing Process. It creates a Team Performance Assessment, and helps you determine what additional training would be beneficial. 126. Manage Project Team is a Controlling Process. It creates input to performance appraisals as well as recommended changes, corrective actions and preventative actions. 127. Scope Baseline includes 1. Project Scope Statement, 2. WBS, & 3. WBS Dictionary 128. A large portion of the PMs time while the work is being done is spent measuring and implementing corrective actions 129. Project Close Process includes creation of two procedures o Administrative closure procedure and o Contract closure procedure The difference between the two is focus, formality and frequency. Administrative closure focuses on closing the project or project phase whereas Contract closure focuses on closing a contract that is part of the project 130. Contingency Reserve (Known Unknowns) is for the risks remaining after the Risk Response Planning Management Reserve (Unknown Unknows is any extra amount reserved t cover unforeseen risks

Cost Baseline will include the Contingency Reserve Cost Budget will include the Management Reserve 131. Quality is defined as the degree to which the project fulfills requirement 132. Quality MUST BE PLANNED IN AND NOT INSPECTED IN 133. The Project Manager ultimately has the responsibility for the Product of the Project and 134. Senior Management is responsible for the Quality of entire Organization 135. Cost of Nonconformance is greater than the cost of conformance 136. Most projects will fit one of the six needs and demands o Market demand o Business need o Customer request o Technological advance o Legal requirement o Social need 137. The project charter (which is an output of the Develop the Project Charter process) is the written acknowledgment that the project exists. The project charter names the project manager and gives that person the authority to assign organizational resources to the project 138. Net present value (NPV) assumes reinvestment is made at the cost of capital 139. IRR assumes reinvestment at the IRR rate and is the discount rate when NPV is equal to zero 140. Payback period does not consider the time value of money and is therefore the least precise of all the cash flow analysis techniques 141. Preliminary project scope statement describes the objectives of the project and the high level requirements needed to satisfy stakeholder expectations 142. The PMIS in the Develop Project Management Plan process includes a subsystem called the configuration management system 143. Change control system, which is a subsystem of the configuration management system 144. Stakeholder analysis is a tool and technique of Scope Definition used to determine and document the needs, wants, and expectations of stakeholders and prioritize and quantify those needs into project requirements 145. The purpose of the project scope statement is to document the project objectives, deliverables, and requirements so that they can be used to direct the project

teams work and as a basis for future project decisions 146. The scope statement further elaborates the project objectives, deliverables, requirements, and constraints and assumptions defined in the preliminary scope statement. It serves as a basis for future project decisions 147. Alternatives identification is a tool and technique of the Scope Definition process that includes brainstorming and lateral thinking techniques 148. Poor scope definition might lead to cost increases, rework, schedule delays, and poor morale 149. According to the PMBOK Guide, functionality and specific conditions that must be met in order to satisfy the project, contract, standard, or specification describe the criteria for requirements, not objectives 150. Product analysis (TT Scope Definition) includes techniques such as value engineering, value analysis, systems analysis, systems engineering, product breakdown, and functional analysis 151. The product scope description can be used as an input to the Scope Definition process when the project charter and/or preliminary project scope statement are missing 152. The lowest level of any WBS is called the work package level 153. For the exam, remember that the key to DOE is that it equips you with a statistical framework that allows you to change the variables that have the greatest effect on overall project outcomes at once instead of changing one variable at a time. 154. Quality checklists are an output of the Quality Planning process, and checklist analysis is a tool and technique of the Risk Identification process 155. Cost-benefit analysis considers trade-offs in the Quality Planning process 156. Benchmarking compares previous similar activities to the current project activities to provide a standard to measure performance against. 157. Failure costs; is also known as the cost of poor quality. Failure costs include both internal and external costs. Internal failure costs are costs associated with not meeting the customers expectations while you still had control over the product. This results in rework, scrapping, and downtime.

158. The process improvement plan is a subsidiary plan of the project management plan and targets inefficiencies in a process or activity. The quality baseline is used to document the quality objectives of the project and is used as a basis for future Quality processes 159. The WBS dictionary should be documented with the code of account identifier, an SOW, the responsible organization, and a milestone schedule for the WBS components 160. Design of experiments is a tool and technique of the Quality Planning process that provides statistical analysis for changing key product or process elements all at once (not one at a time) to optimize the process 161. According to the PMBOK Guide, the risk management plan should include the following elements: o Methodology o Roles and responsibilities o Budgeting o Timing o Risk categories o Definitions of risk probability and impact o Probability and impact matrix o Revised stakeholder tolerances o Reporting formats o Tracking 162. The output of the Risk Identification process is the risk register. The risk register contains the following elements: o List of identified risks o List of potential responses o Root causes of risks o Updated risk categories 163. Risk urgency assessment is a tool and technique of Qualitative Risk Analysis process 164. Qualitative Risk Analysis is a fast and easy method of determining probability and impact 165. The risk management plan details how risk management processes will be implemented, monitored, and controlled throughout the life of the project. 166. The risk management plan does not include responses to risks or triggers. Responses to risks are documented in the risk register as part of the Risk Response Planning process 167. The information-gathering techniques in the Risk Identification process are o brainstorming,

o the Delphi technique, o interviewing, o root cause identification, and o SWOT analysis. 168. Quantitative Risk Analysis analyzes the probability of risks and their consequences using a numerical rating 169. Monte Carlo analysis is a simulation technique & not a Modeling technique 170. When the question describes sensitivity analysis, which is a tool and technique of the Quantitative Risk Analysis process. Tornado diagrams are often used to display sensitivity analysis data 171. The simplest form of Risk Analysis is Sensitivity Analysis 172. Following options are diagramming techniques of the Risk Identification process o Ishikawa diagram o Process flowchart o Influence diagram 173. Passive acceptance is when the team has decided to take no action and make no plans for the risk. This is a strategy that can be used for either positive or negative risks. 174. The PMBOK Guide divides contracts into three categories: o Fixed price or lump sum (biggest risk is borne by the seller & good when original scope is well defined) o Cost reimbursable (biggest risk is borne by the buyer) o Time and materials (T&M) 175. The three outputs of the Plan Contracting process are o procurement documents (request for proposal (RFP), request for information (RFI), invitation for bid (IFB), request for quotation (RFQ)), o evaluation criteria,and o contract statement of work updates. 176. Understand the difference between bid and/or quotation and proposal for the exam. Bids or quotations are used when price is the only deciding factor among bidders. Proposals are used when there are considerations other than price 177. A contract statement of work (SOW) contains the details of the procurement item in clear, concise terms. It includes the following elements: o The project objectives o A description of the work of the project and any post project operational support needed o Concise specifications of the product or services required o The project schedule, time period of services, and work location

178. According to the PMBOK Guide, using templates and checklists is one way to ensure that you dont miss any key responsibilities when planning the project and will help reduce the amount of time spent on project planning 179. According to the PMBOK Guide, the RAM (Responsibility Assignment Matrix) relates the OBS to the WBS to assure that every component of the work of the project is assigned to an individual. 180. The letters in the acronym RACI (sample portion of a type of RAM) are the designations are o R = Responsible for performing the work o A = Accountable, the one who is responsible for producing the deliverable or work package and approves or signs off on the work o C = Consult, someone who has input to the work or decisions o I = Inform, someone who must be informed of the decisions or results 181. The RAM and RACI charts are tools and techniques of Human Resource Planning process 182. Standard forms are a tool and technique of the Plan Contracting process. Standard forms can be nondisclosure agreements, standardized contracts, and so on. 183. Plan Purchases and Acquisitions can directly influence the project schedule, and the project schedule can directly influence this process 184. Resource availability is an output of the Acquire Project Team and Select Seller processes 185. For the exam, remember that resource availability isnt determined until the Executing stage and becomes an input to the Activity Resource Estimating process 186. Remember that you cannot perform Schedule Development until you have completed all the following processes of project Planning: Scope Planning, Scope Definition, Create WBS, Risk Identification, Risk Response Planning, Plan Purchases and Acquisitions, Activity Resource Estimating, Activity Definition, Activity Sequencing, and Activity Duration Estimating 187. Schedule Development has 10 tools and techniques: o Schedule network analysis (produces the project schedule) o Critical path method () o Schedule compression o What-if scenario analysis o Resource leveling o Critical chain method o Project management software

o Applying calendars o Adjusting leads and lags o Schedule model 188. The higher the standard deviation is for an activity, the higher the risk. Since standard deviation measures the difference between the pessimistic and the optimistic times, a greater spread between the two, which results in a higher number, indicates a greater risk. Conversely, a low standard deviation means less risk 189. Monte Carlo is a simulation technique that shows the probability of all the possible project completion dates 190. Monte Carlo analysis can be used in the Schedule Development process to determine multiple, probable project durations 191. Resource leveling can cause the original critical path to change. 192. CPM manages the total float of schedule networks paths, whereas critical chain manages buffer activity durations and resources 193. Cost aggregation (TT of Cost Budgeting) is the process of tallying the schedule activity cost estimates at the work package level and then totaling the work package levels to higher level WBS component levels 194. Funding limit reconciliation (TT of Cost Budgeting) involves reconciling the amount of funds spent with the amount of funds budgeted for the project 195. Cost baselines are displayed as an S curve. 196. The primary output of Cost Estimating is activity cost estimates 197. Parametric estimating multiplies a known elementsuch as the quantity of materials neededby the time it takes to install or complete one unit of materials. The result is a total estimate for the activity 198. The project schedule determines the start and ending dates of activities, determines float times, generally shows resource assignments, and details the activity sequences and durations. 199. Motivation can be extrinsic or intrinsic. o Extrinsic motivators are material rewards and might include bonuses, the use of a company car, stock options, gift certificates, training opportunities, extra time off, and so on o Intrinsic motivators are specific to the individual. Some people are just naturally driven to achieveits part of their nature 200. The introduction of a new team member will start the formation and development of the team all over again with the forming stage

201. Teams in the norming stage of Develop Project Team exhibit affection and familiarity with one another and make joint decisions 202. Request Seller Responses obtains bids and proposals from vendors. 203. Select Sellers is the receipt of bids and proposals and the selection of a vendor 204. Independent estimates (TT of Select Sellers), also called should cost estimates, are a way to check proposed pricing 205. Fait accompli is a tactic used during contract negotiations where one party convinces the other that the particular issue is no longer relevant or cannot be changed 206. The process analysis technique (TT of Perform Quality Assurance process) includes root cause analysis to analyze a problem and solution and to create preventive actions 207. You are preparing project performance appraisals and have decided youd like each team member to get feedback regarding their performance from several sources, including peers, superiors, and subordinates. This is called 360-degree feedback and is part of the project performance appraisals tool and technique of the Manage Project Team process. 208. Understand for the exam that configuration management involves o identifying the physical characteristics of the product, service, or result of the project (or its individual components); o controlling changes to those characteristics; and o Documenting changes to verify that requirements are met. o It also includes the change management system and o documents the process for requesting, tracking, and determining whether change requests should be approved or denied. 209. Activities associated with configuration change management in the Integrated Change Control process o Configuration identification o Configuration status accounting and o Configuration verification and auditing 210. Integrated Change Control, Schedule Control, and Cost Control are all concerned with three issues: o influencing the things that cause change, o determining that change is needed or has happened, o and managing the change

211. Change control systems are documented procedures that describe o How to submit change requests. o They track the status of the change requests, o document the management impacts of change, o track the change approval status, and o define the level of authority needed to approve changes. 212. Change control systems do not approve or deny the changesthats the responsibility of the configuration control board (CCB) 213. The configuration control board (CCB) has the authority to approve or deny change requests. Their authority is defined and outlined by the organization 214. Recommended corrective action is an output of several of the change control processes, including Scope Change Control, Schedule Control, Cost Control, Risk Monitoring and Control, and Perform Quality Control. 215. Approved corrective action is an output of the Integrated Change Control process. Remember that Integrated Change Control is where all change requests are processed and either approved or denied. 216. Also note that corrective action is an output of the Monitoring and Controlling processes and an input to the Executing processes 217. Cost variances (both positive and negative) are calculated using a performance measurement analysis tool (specifically earned value techniques) 218. EVT (earned value techniques) compares what youve received or produced to what youve spent. 219. Workarounds are unplanned responses. Workarounds deal with negative risk events as they occur. 220. Schedule variances will sometimesbut not alwaysimpact the schedule. Changes to noncritical path tasks will not likely impact the schedule, but changes to critical path tasks will always impact the schedule 221. Budget updates might require cost rebaselining 222. You can remember the difference between Scope Verification and Perform Quality Control this way: o Scope Verification = accepting work results o Perform Quality Control = checking for correct work results (assuring that the quality requirements are met) 223. Projects come to an end for several reasons: o Theyre completed successfully.

o Theyre canceled or killed prior to completion. o They evolve into ongoing operations and no longer exist as projects. 224. Four formal types of project endings exist that you might need to know for the exam: o Addition o Starvation o Integration o Extinction 225. For the exam, remember that product verification performed during the Closing processes determines whether all of the work of the project was completed correctly according to the contract terms and satisfactorily according to stakeholder expectations, whereas product documentation is verified and accepted during the Scope Verification process. One more note: when projects end prematurely, the Scope Verification process is where the level of detail concerning the amount of work completed gets documented. 226. Contract documentation is an input to both the Close Project and Contract Closure processes 227. Note PMI defines Scope Statement as the basis for making future project decisions and for confirming or developing common understanding of project scope among project stakeholders. 228. Scope Verification o Verified work results 229. Perform Quality Control o Assured quality requirements were met 230. Close Project o Product verification (work was correct and satisfactory) o Collecting project documents o Disseminating final acceptance notice o Documenting lessons learned o Archiving project records 231. Contract Closure o Product verification (work was correct and satisfactory) o Formal acceptance and closure 232. WBS element changes are scope changes. Schedule revisions are often required as a result of scope changes. 233. Close Project and Contract Closure are the processes in the Closing process group and are performed in that order 234. The work performance information is reviewed to determine the status of project activities and make certain the project goals and objectives are met. This is an input to

the Close Project process 235. According to the PMBOK Guide, the procurement audit examines the procurement process from Procurement Planning through Contract Administration 236. Integrity means adhering to an ethical standard 237. Hammocks are summary-level activities or aggregate activities shown as a summary activity on a project schedule network diagram. 238. Contract Negotiation has 5 Sequential steps (Note Agreement is AFTER Closure) o Protocol o Probing o Scratch Bargaining o Closure and o Agreement 239. The Primary Objective of establishing a Quality Assurance Process is For Quality Improvement 240. Quality Function Deployment Process identifies what the customers needs are (Spoken/unspoken words) and translates those needs into technical requirements. Appropriate for each stage of the product development life cycle 241. Decision Tree is a diagram that describes a decision under consideration and the implications of choosing one of the alternatives 242. The Project Charter provides the o high level requirements, o constraints, o assumptions, o stakeholders and o the measures of success. 243. Based on this information, or the lack of it, the Charter is an excellent source to start to identify the Project Risks 244. 9 bilities (A MAP FOR US) Maintainability: The ability of a unit to be restored within a specified time to its performance capability under the environmental operating conditions within a specified, average period of time Usability: is the ability of a product to perform its intended function for the specified user under the prescribed conditions Reliability: is the degree to which a unit of equipment performs its intended function under specific conditions for specified period of time Availability: is the probability of the product being capable of performing a

required function when called upon 245. Activity Resource Estimating involves determining what physical resources (People, Equipment, etc) and what quantities should be used and when they would be needed to perform project activities 246. Physical limitations are an attribute of Mandatory Dependencies 247. A Project Phase is Marked by the completion of one or more deliverables 248. A Product Description should define the relationship between the product that is being created and the business need 249. Contingency Plans can be best described as Planned responses to Risk Events 250. Staff assignments and resource availability are the outputs of Acquire the Project Team Process 251. Complex and large projects would be more effectively managed in Strong and Projectized Structure 252. If Changes are well defined, its Fixed Price Contract but if they are not then its T & M 253. Contract Management Plan is an OUTPUT to Select Seller Process 254. Punitive Damages are the damages intended to punish the wrong doer 255. Utility Theory considers the pains or tolerance level a stakeholder has to risk 256. There are three key components to a Risk o Risk Event (The Event) o Probability of the Event o Impact or Effects of the Event (Amount at Stake) 257. Delhi technique is a Consensus Technique 258. Residual Risk are those that Remain after Risk Responses have been taken 259. Inputs to Performance Reporting are o Work Performance Information o Performance Measurements o Forecasted Completion o QC Measurement o Project Plan o Approved Change Requests and o Deliverables 260. Interpersonal communication takes three forms o Verbal o Non-verbal and o Written

261. When distributing information, the total message impact from the sender is 1. 7% words , 2. 38% vocal tones and 3. 55% body language 262. A Planning Package is a WBS component below the control account but above the work package. It is used for planning unknown work content that does not have detailed schedule activities 263. There are two types of Decision Models that can be used for Project Selection during the initiation Process o Comparative (Benefit measurement Rating) Models o Constrained (Mathematical Decision Models) 264. Comparative (Benefit measurement Rating) Models o Decision Tree o Criteria Profiling o Weighted Factor o Q-Sorting o Delphi Technique 265. Constrained (Mathematical Decision Models) o Logical Framework Analysis o Linear Program Programming 266. The Control Points in the WBS used for isolated assignment to work centers are referred to as the Control Account Plan 267. Control account Plan (CAP) is a management control point where the integration of scope, budget and schedule take place and where the measurement of performance takes place. These CAPS are placed at the selected management points in the WBS. 268. Cost Estimates include All Resources to be charged to the Project 269. A Control Account is a management control point that can be placed at selected management points of the WBS above the Work Package Level 270. To convey information between two or more parties, the communication process must have a medium. The three most common media are o Visual o Auditory and o Tactile 271. Four steps of performing RCA (Root Cause Analysis) are o Data Collection o Casual Factor Charting o Root Cause Identification o Recommendation Generating and Implementation 272. Scatter Diagrams are used to investigate the possible relationship between two variables that both relate to the same EVENT

273. BCR (Benefit Cost Ratio) compares the benefits to the costs of the project where the Benefits are the same as Revenues or often referred to as the Payback period 274. Project performance is impacted by Four Basic Cultures o World o National o Business and o Leadership 275. When one considers their Culture to be superior, they are called Ethnocentric 276. Use of personal space during social interaction is known as Proxemics 277. Risk is the notion of dealing with Uncertainty o Knows at the extreme end of the Uncertainty Spectrum will definitely affect you, although you have no control over them o Knows-Unknowns are items that will affect you although you are not able to predict how or how much they will effect you o Unknown Unknowns are items or situations whose existence we cannot imagine (Who knows?) 278. A Records Management Systems is a specific set of processes, related control functions and automation tools used by the PM to manage contract documentation and records. Its the TT of Contract Administration Process 279. Parametric (Top Down) uses historical data and statistical relationships to determine costs 280. Constructive team roles include Initiators, Information seekers, Information givers, Encouragers, Clarifiers, Harmonizers, Summarizers and Gate Keepers 281. Destructive team roles include Aggressor, Withdrawer, Blocker, Devils advocate, Recognizer, Topic Jumper and Dominator 282. To Complete Performance Indicator (TCPI) determines the cost performance efficiency required to complete the project within the original budget (BAC) or revised budget (EAC); 283. TCPI > 1 is NOT good; To calculate TCPI, take the value of the work remaining over the value of funds remaining 284. Eustress is a stress that will motivate and contribute to an increase in performance 285. Quantitative based durations (Parametric technique) multiply a known element, like lines of code required by the time it takes to develop one line of code. The result is the total estimate for the activity 286. Quality Metrics are the Outputs of Quality Planning. It is an operation definition that describes what something is and how it will be measured in very specific terms

287. Straight-line depreciation is the simplest method of depreciating an asset and is frequently utilized on a project to determine its economic feasibility. Straight-line depreciation is a method that divides an assets cost and its expected salvage value by its expected utilization period 288. Performance Reporting is an INPUT to all Control Process (Except Quality Control) 289. Decision Trees are considered Quantitative while Influence diagram are considered Qualitative. 290. Influence diagram shows the dependencies among the variables more clearly than the decision tree 291. A Bill of Material (BOM) describes the product in terms of its assemblies, sub-assemblies and basic parts 292. Allowing Automatic Approval of changes is a function of the Change Control System and NOT Configuration Management 293. Contingency Plan document outlines the actions to be taken if an identified risk event should occur 294. Variable and attribute sampling are forms of acceptance sampling. Variable sampling evaluates a characteristic measured on a numerical scale Attribute sampling tests for defective or non defective 295. Parametric Modeling applies to only Project with Similar characteristics 296. The point of total assumption (PTA) is a price determined by a fixed price plus incentive fee contract (FPIF) above which the seller bears all the loss of a cost overrun. It is also known as the "most pessimistic cost 297. Variance analysis involves comparing actual project results to planned or expected results 298. Trend analysis involves examining project results over time to determine if performance is improving
Earned Value Analysis PV (Present Value) = BCWS (Budgeted Cost of Work Schedule) EV (Earned Value) = BCWP (Budgeted Cost of Work Performed) AC (Actual Cost) = ACWP (Actual Cost of Work Performed) CV = EV AC SV = EV PV CPI = EV / AC SPI = EV / PV ETC = BAC EV [Future Variances are Atypical or Not Consistent or Di similar]

ETC = (BAC EV) / CPI [Future Variances are Typical or Consistent or similar] EAC EAC EAC EAC = = = = BAC / CPI [simplest formula: typical or no variances] AC + ETC [Initial Estimates are flawed] AC + BAC EV [Future variances are Atypical or Not Consistent or Di similar] AC + BAC EV / CPI [Future Variances are Typical or Consistent or similar]

VAC = BAC EAC % COMPLETE = EV / BAC x 100 % SPENT = AC / BAC x 100 CV% = CV / EV x 100 SV% = SV / PV x 100 Float or Slack LS - ES and LF EF MEAN -> Average MODE -> The most found number RANGE -> Largest - Smallest Measure. MEDIUM -> No in the middle or avg. of 2 middle Nos PERT = O + 4ML + P / 6 STD. DEV. OF TASK = P O / 6 TASK VAR. = [(P - O)/6 ] squared = Std. Dev ^ 2 CP STD. DEV. = + + SIGMA 1 = 68.26 2 = 95.46 3 = 99.73 6 = 99.99 Channels of Communication (N x (N 1)) / 2 Project Selection PV = F V / (1+r) (or) FV = PV x (1+r) Cash Flow = Cash Inflow Cash Outflow Discounted Cash Flow = CF x Discount Factor ARR = S Cash Flow / No. of Years ROI = (ARR / Investment) * 100 % Bigger is better BCR = Benefits / Cost

Benefit Cost Ratio (BCR) Bigger is better ((BCR or Benefit / Cost) Revenue or Payback VS. cost) Or PV or Revenue / PV of Cost Net Present Value (NPV) = Net Present Value Bigger is better Internal Rate of Return (IRR) Bigger is better Payback Period Less is better Net Investment / Avg. Annual cash flow Exp. Value = Probability % x Consequence $ Class of Estimates Definitive +5% Capital Cost +10-15% Appropriation +15-25% Feasibility +25-35% Order of Magnitude > +35% (-50 - 75%) Contract Incentives Savings = Target Cost Actual Cost Bonus = Savings x Percentage Contract Cost = Bonus + Fees Total Cost = Actual Cost + Contract Cost Expected Monetary Value Probability * Impact Point of Total Assumption (PTA) ((Ceiling Price - Target Price) / buyer's Share Ratio) + Target Cost To Complete Performance Index [TCPI] Values for the TCPI index of less then 1.0 is good because it indicates the efficiency to complete is less than planned. How efficient must the project team be to complete the remaining work with the remaining money? ( BAC - EV ) / ( BAC - AC ) Cost of Quality (CoQ) = ( ( Review Efforts + Test Efforts + Training Efforts + Rework Efforts + Efforts of Prevention) / Total efforts) x 100 %

Took free tests available on the internet. You can check PMZilla.com for links to these websites. Finally I read the PMBOK for the third time and enrolled for 4 full length exams on pmstudy.com.